|
Report Date : |
09.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
Ta CheN Stanless Pipe Co., Ltd. |
|
|
|
|
Registered Office : |
No.125, Hsin Tien 2nd St., Jeng-The, Tainan |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
30.09.2012 |
|
|
|
|
Date of Incorporation : |
27.11.1986 |
|
|
|
|
Com. Reg. No.: |
22318348 |
|
|
|
|
Legal Form : |
Joint stock Company |
|
|
|
|
Line of Business : |
Manufacturer and Sales of Stainless Steel Products etc. |
|
|
|
|
No. of Employees : |
3,729 Employee |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Taiwan - ECONOMIC OVERVIEW
Taiwan has a dynamic capitalist economy with gradually decreasing government guidance of investment and foreign trade. In keeping with this trend, some large, state-owned banks and industrial firms have been privatized. Exports, led by electronics, machinery, and petrochemicals have provided the primary impetus for economic development. This heavy dependence on exports exposes the economy to fluctuations in world demand. In 2009, Taiwan's GDP contracted 1.9%, due primarily to a 20% year-on-year decline in exports. In 2010 GDP grew 10.9%, as exports returned to the level of previous years, and in 2011, grew 5.2%. However, 2012 growth will likely be less, according to most forecasters, because of softening global demand. Taiwan's diplomatic isolation, low birth rate, and rapidly aging population are major long-term challenges. Free trade agreements have proliferated in East Asia over the past several years, but so far Taiwan has been excluded from this greater economic integration largely because of its diplomatic status with the exception of the landmark Economic Cooperation Framework Agreement (ECFA) signed with China in June 2010. The MA administration has said that the ECFA will serve as a stepping stone toward trade pacts with other regional partners, and negotiations on a deal with Singapore began this year. Follow-on components of ECFA, including deals on trade in goods, services, and investment, have yet to be completed. Taiwan's Total Fertility rate of just over one child per woman is among the lowest in the world, raising the prospect of future labor shortages, falling domestic demand, and declining tax revenues. Taiwan's population is aging quickly, with the number of people over 65 accounting for 10.9% of the island's total population as of 2011. The island runs a large trade surplus, and its foreign reserves are the world's fourth largest, behind China, Japan, and Russia. Since 2005 China has overtaken the US to become Taiwan's second-largest source of imports after Japan. China is also the island's number one destination for foreign direct investment. Three financial memorandums of understanding, covering banking, securities, and insurance, took effect in mid-January 2010, opening the island to greater investments from the mainland's financial firms and institutional investors, and providing new opportunities for Taiwan financial firms to operate in China. Closer economic links with the mainland bring greater opportunities for the Taiwan economy, but also poses new challenges as the island becomes more economically dependent on China while political differences remain unresolved.
Source : CIA
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
No.122,Yi Lin
Road, Jeng-Teh Tainan, 71752 Taiwan R.O.C. |
|
Supplied
Address: |
|
|
Telephone
Number: |
+886-6-270-1756 |
|
Fax Number: |
Notes: Subject’s
exact name and address are as above. And subject did not introduce the supplied
address
Subject was incorporated on 1986-11-27 with registered number 22318348 as Joint Stock Company in Taiwan.
Subject was listed at Taiwan Stock Exchange on 1996-10-24
Awards
|
Year |
Awards |
|
2009 |
Blue chip
importer and exporter |
|
2010 |
Blue chip
importer and exporter |
|
2011 |
Blue chip
importer and exporter |
Standard of Blue
chip importer and exporter
Unit: USD
|
Year |
Amount |
|
2009 |
15,000,000 |
|
2010 |
20,000,000 |
|
2011 |
22,000,000 |
|
Name |
Subscription Shares |
|
Liyun Xie |
19,371,498 |
|
Rigid Industrial Co., Ltd |
8,733,752 |
|
Rongkun Xie |
26,017,114 |
|
Shixian Tu |
3,448,366 |
|
Zhaojin Cai |
2,007,032 |
|
Ronghui Xie |
2,817,648 |
The information above is that of subject’s major shareholders.
Locations in
Taiwan
|
1 |
|
|
Name |
Tainan Factory |
|
Address |
NO.122,Yi Lin Road, Jeng-Teh Tainan, 71752 Taiwan R.O.C. |
|
Tel: |
+886-6-270-1756 *4000 |
|
Fax: |
+886-6-270-1382 |
|
Marketing Areas: |
Domestic, Asia, Africa, Australia |
|
Production
Capability: |
Welded
Pipe: 3000 tons / month Structural
Tubing: 1100 tons / month Flat
bar: 650 tons / month Butt-weld
fittings: 180 tons / month Valve:
100 tons / month 150# Fittings: 80 tons / month |
|
2 |
|
|
Name |
Taipei Sales Office |
|
Address |
5F-3, No.36, Lane 48, Sec.3, Nanking East Road, Taipei, Taiwan |
|
Tel: |
+886-2-2506-7067 |
|
Fax: |
+886-2-2501-3725 |
|
Marketing Areas |
Europe, Middle East, North Africa, Central and South America, and New
Zealand |
Locations in USA
|
Los Angeles Warehouse (Obispo) (USA Headquarters) 91,900 Sq Ft 5855 Obispo Ave. Long Beach, CA. 90805 Toll free: 800-364-8389 Tel: +562-808-8000 Fax: +562-808-8104 Los Angeles Warehouse (Cherry) 166,000 Sq Ft 6979 Cherry Ave. Long Beach, CA.
90805 Tel: +562-633-7388 Fax: +562-634-2514 Seattle Warehouse 122,500 Sq Ft 11101 S. Tacoma Way, Suite C Lakewood, WA. 98499 Tel: +253-584-2161 Fax: +253-584-1689 Houston Warehouse 226,266 Sq Ft 9525 Wallisville Road Houston, TX. 77013 Toll free: 800-310-2003 Tel: +713-672-0177 Fax: +713-673-6675 TSA Processing (Outside Processor-TCI Flat Rolled
Storage) 1625 W. Sam Houston Pkwy N. Houston, TX. 77043 Tel: +713-467-9800 Chicago Warehouse 215,000 Sq Ft 5650 Centerpoint Court Gurnee, IL. 60031 Toll free: 800-580-1070 Tel: +847-816-6775 Fax: +847-816-7503 Cleveland Warehouse 87,205 Sq Ft 1214 Marquette St. Cleveland, OH. 44114 Tel: +216-432-9252 Fax: +216-432-9324 Atlanta Warehouse 156,920 Sq Ft 2995 Evergreen Dr. Suite 100 Duluth,
GA. 30096 Toll free: 888-756-1234 Tel: +770-814-9212 Fax: +770-814-7053 Lakeland Warehouse 195,263 Sq Ft 6870 Firstpark Blvd. Suite 150
Lakeland, FL. 33805 Toll free: 800-705-1464 Tel: +863-874-3108 Fax: +863-874-3109 Burlington Warehouse 103,508 Sq Ft 500 Richards Run Unit 3 Burlington,
NJ. 08016 Toll free: 888-824-0059 Tel: +609-239-6000 Fax: +609-239-5600 TCI Stainless & Aluminum Park 80 West 250 Pehle Ave, Suite 110 Saddle Brook, NJ. 07663 Tel: +201-845-3333 Fax: +201-845-3335 UTS Baltimore (Outside Processor-TCI Coil Storage) 4000 Beachwood Road Baltimore, MD. 21222 Tel: +410-477-8353 |
Locations in China
|
Shijiazhuang Ji-Tai Precision Casting Co., Ltd. Production Capability: 150 tons / month NO.379 Heping East Road Shijiazhuang, Hebei P.R. China Tel: +86-311-87225850 Ta Chen (Baoding) Precision Casting Co., Ltd. Production Capability: 180 tons / month Xian Cheng Hou Street, Baoding City, Boye County, Hebei 071300 P.R. China Tel: +86-312-832-6499 Ta Chen (Boye) Precision Casting Co., Ltd. Production Capability: 150 tons / month Bo Xing Middle Road, Baoding City, Boye County, Hebei 071300 P.R. China Tel: +86-312-871-9285 Ta Chen (Changshu) Machinery Co., Ltd. Production Capability: 160 tons / month Haiyang Road Haiyu Town Changshu, Jiangsu 215519, P.R. China Tel: +86-512-5256 -5588 |
Core
Management
Directors
|
1 |
|
|
Name |
Liyun Xie |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Zaiwang Ou |
|
Position |
Director |
|
3 |
|
|
Name |
Rongkun Xie |
|
Position |
Director & Manager |
|
Date of Appointment |
2002-6-25 |
|
4 |
|
|
Name |
Shixian Tu |
|
Position |
Director |
|
5 |
|
|
Name |
Zhaojin Cai |
|
Position |
Director |
|
6 |
|
|
Name |
Ronghui Xie |
|
Position |
Supervisor |
Personnel Structure
|
Total Employees |
3,729 employees as of 2012-9-30 |
Offices & Factories
|
|
Headquarters |
|
Add |
Production Information
· Subject’s factory and it related companies are principally engaged in the manufacture of stainless steel products.
Purchase
Information
The registered activities of subject:
|
ZZ99999 |
Besides licensed
business, all other business items those are not banned or restricted. |
Subject purchases
raw materials both at home and abroad.
· The subject is mainly engaged in distribution of stainless steel products.
· Subject’s products include stainless steel pipes, stainless steel welding pipe fittings and stainless globe valves.
· And subject also involves in the trading of steel plates and steel rods.
· During the year ended December 31, 2011, the Company obtained approximately 52% and 34% of its total revenue from stainless steel pipes, as well as the trading of steel plates and rods, respectively.
· Subject’s products are mainly exported to its related companies in USA and it is introduced that the subject’s market share is about 10% in stainless steel trade market of USA.
· Subject also distributes its products in Asia, Europe, the Americas and Australia.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Raw materials, etc |
COD, Credit Sales, etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
CBD,
Credit Sales, etc |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Stainless Steel Products, etc |
CBD, COD, Credit Sales, etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Stainless Steel Products, etc |
CBD, Interior Settlement, etc |
100% |
Unit: NTD/000
|
|
2012-9-30 |
2011-9-30 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and cash equivalents |
890,673 |
873,757 |
|
Financial assets measured at fair value through profit or loss -
current |
67,407 |
6,455 |
|
Available-for-sale financial assets - current |
80,788 |
56,137 |
|
Hedging derivative assets - current |
0 |
13,331 |
|
Notes receivable - net |
32,037 |
15,632 |
|
Accounts receivable - net |
161,337 |
199,432 |
|
Accounts receivable - related parties - net |
2,983,818 |
4,502,102 |
|
Other receivables |
26,589 |
39,610 |
|
Other receivables - related parties |
563 |
12,695 |
|
Inventories |
1,950,425 |
1,830,890 |
|
Other prepayments |
320,617 |
51,122 |
|
Other current assets |
1,055,902 |
920,560 |
|
Current assets |
7,570,156 |
8,521,723 |
|
Funds and Investments |
|
|
|
Available-for-sale financial assets - non current |
0 |
45,744 |
|
Financial assets carried at cost - non current |
27,000 |
30,000 |
|
Equity investments under equity method |
10,007,621 |
9,776,390 |
|
Investments |
10,007,621 |
9,776,390 |
|
Funds and long-term investments |
10,034,621 |
9,852,134 |
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
815,266 |
712,077 |
|
Land improvements |
32,783 |
32,783 |
|
Buildings and structures |
926,325 |
853,846 |
|
Machinery and equipment |
2,720,308 |
2,677,287 |
|
Molding equipment |
224,463 |
220,323 |
|
Utilities equipment |
147,861 |
127,226 |
|
Transportation equipment |
48,051 |
45,311 |
|
Office equipment |
29,125 |
34,159 |
|
Leasehold improvements |
92,038 |
82,570 |
|
Other facilities |
78,961 |
70,690 |
|
Fixed assets cost |
5,115,181 |
4,856,272 |
|
Accumulated depreciation |
-2,716,386 |
-2,455,778 |
|
Construction in process and prepayment for equipments |
46,392 |
69,679 |
|
Fixed assets |
2,445,187 |
2,470,173 |
|
Intangible Assets |
|
|
|
Other Assets |
|
|
|
Guarantee deposits paid |
5,134 |
3,157 |
|
Deferred charges |
1,016 |
1,992 |
|
Deferred income tax assets - non current |
21,529 |
9,863 |
|
Other assets - other |
114,267 |
146,906 |
|
Other assets |
141,946 |
161,918 |
|
Assets |
20,191,910 |
21,005,948 |
|
Liabilities and Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Short-term borrowings |
4,797,403 |
4,093,541 |
|
Short-term notes and bills payable |
119,911 |
59,924 |
|
Financial liabilities measured at fair value through profit or loss -
current |
368,421 |
162,791 |
|
Hedging derivative liabilities - current |
16,784 |
0 |
|
Notes payable |
133,112 |
123,420 |
|
Accounts payable |
242,320 |
123,844 |
|
Accounts payable - related parties |
61,207 |
77,664 |
|
Income tax payable |
0 |
65,524 |
|
Accrued expenses |
190,329 |
215,058 |
|
Other payables |
85,078 |
1,671 |
|
Long-term liabilities - current portion |
714,950 |
92,850 |
|
Other current liabilities |
47,880 |
431,037 |
|
Current liabilities |
6,777,395 |
5,447,324 |
|
Long term Liabilities |
|
|
|
Long-term borrowings |
3,591,275 |
4,282,563 |
|
Long-term liabilities |
3,591,275 |
4,282,563 |
|
Reserves |
|
|
|
Other Liabilities |
|
|
|
Pension reserve / accrued pension liability |
2,770 |
0 |
|
Other liabilities |
2,770 |
0 |
|
Liabilities |
10,371,440 |
9,729,887 |
|
Stockholders' Equity |
|
|
|
Capital |
|
|
|
Common stock |
7,081,803 |
7,152,843 |
|
Capital Surplus |
|
|
|
Capital surplus - additional paid-in capital |
1,348,475 |
1,627,255 |
|
Capital surplus - treasury stock transactions |
825,333 |
835,209 |
|
Capital surplus - other |
13,503 |
13,503 |
|
Capital surplus |
2,187,311 |
2,475,967 |
|
Retained Earnings |
|
|
|
Legal reserve |
839,208 |
792,880 |
|
Special reserve |
582,067 |
745,330 |
|
Unappropriated retained earnings |
225,334 |
706,842 |
|
Retained earnings |
1,646,609 |
2,245,052 |
|
Stockholders' Equity and Other adjustmen |
|
|
|
Cumulative translation adjustments |
-905,367 |
-526,461 |
|
Net loss not recognized as pension cost |
-9,470 |
0 |
|
Unrealized gains (losses) on financial instruments |
68,907 |
25,738 |
|
Treasure stock |
-249,323 |
-97,078 |
|
Equity adjustments |
-1,095,253 |
-597,801 |
|
Stockholdersˉ equity |
9,820,470 (USD 332,913,933) |
11,276,061 (USD 382,258,468) |
|
Number of treasury stock acquired by the company and subsidiaries
(unit: share) |
17,080,000 |
7,104,000 |
|
|
0.00 |
0.00 |
(As of 2013.02, 1 NTD = 0.0339 USD)
Unit: NTD/000
|
|
2012-1-1 ~2012-9-30 |
2011-1-1 ~2011-9-30 |
|
Sales |
7,513,799 (USD 254,717,786) |
8,294,068 (USD 281,168,905) |
|
Sales discounts and allowances |
182,459 |
4,036 |
|
Sales |
7,331,340 |
8,290,032 |
|
Operating income |
7,331,340 |
8,290,032 |
|
Operating costs |
7,323,804 |
7,289,853 |
|
Gross profit (loss) from operations |
7,536 |
1,000,179 |
|
Unrealized gains on intercompany transactions |
0 |
95,703 |
|
Realized gains on intercompany transactions |
140,986 |
0 |
|
Selling expense |
112,069 |
107,408 |
|
General and administrative expenses |
251,671 |
259,766 |
|
Operating expenses |
363,740 |
367,174 |
|
Operating income (loss) |
-215,218 |
537,302 |
|
Non-Operating Income |
|
|
|
Interest income |
4,053 |
3,639 |
|
Inome from long-term equity investments under the equity method |
656,184 |
293,507 |
|
Investment income |
656,184 |
293,507 |
|
Foreign exchange gains |
0 |
233,074 |
|
Revaluation gain on financial assets |
469,009 |
72,581 |
|
Miscellaneous income |
8,673 |
9,380 |
|
Non-operating revenues and gains |
1,137,919 |
612,181 |
|
Non-Operating Expenses |
|
|
|
Interest expense |
136,117 |
137,121 |
|
Foreign exchange losses |
115,210 |
0 |
|
Revaluation loss on financial liabilities |
554,763 |
227,877 |
|
Miscellaneous disbursements |
942 |
2,822 |
|
Non-operating expenses and losses |
807,032 |
367,820 |
|
Income from continuing operations before income tax |
115,669 |
781,663 |
|
Income tax expense (benefit) |
-96,160 |
74,821 |
|
Income from continuing operations |
211,829 |
706,842 |
|
Net income (loss) |
211,829 (USD 7,181,003) |
706,842 (USD 23961943.8) |
|
Primary Earnings per Share |
|
|
|
Primary earnings per share |
0.31 |
1.00 |
|
Diluted earnings per share |
|
|
|
Diluted earnings per share |
0.31 |
1.00 |
(As of 2013.02, 1 NTD = 0.0339 USD)
Unit: NTD/000
|
|
2012-1-1 ~2012-9-30 |
2011-1-1 ~2011-9-30 |
|
|
|
|
|
Net Income (Loss) |
211,829 |
706,842 |
|
Adjustments to Reconcile Net Income to Net
Cash Provided by (Used in) Operating Activities |
|
|
|
Depreciation Expense |
266,527 |
183,933 |
|
Amortization Expense |
536 |
1,778 |
|
Difference Between Net Pension Cost and
Plan Contribution |
1,011 |
5,667 |
|
Loss (Gain) on Decline (Recovery) in Market
Value, Scrap and Obsolescence of Inventories |
131,096 |
147,128 |
|
Loss (Gain) on Physical Inventory |
1,113 |
1,163 |
|
Investment Loss (Income) Recognized under
Equity Method |
-656,184 |
-293,507 |
|
Cash Dividends Received from Investments
Accounted for under Equity Meth |
93,857 |
0 |
|
Loss (Gain) on Disposal of Property, Plan
and Equipment |
-1,493 |
2,560 |
|
Loss (Gain) on Disposal of Investments |
-1,910 |
-1,319 |
|
Unrealized Gain (Loss) on Intercompany
Transactions |
0 |
95,703 |
|
Realized Loss (Gain) on Intercompany
Transactions |
-140,986 |
0 |
|
Loss (Gain) on Deferred Income Tax |
-98,202 |
9,315 |
|
Other Adjustments to Reconcile Net Income |
3,555 |
4,320 |
|
Changes in Operating Assets and Liabilities |
|
|
|
Decrease (Increase) in Financial Assets
Held for Trading |
-50,835 |
7,058 |
|
Decrease (Increase) in Notes Receivable |
526 |
-1,067 |
|
Decrease (Increase) in Accounts Receivable |
140,428 |
-21,864 |
|
Decrease (Increase) in Accounts Receivable
- Related Parties |
125,181 |
-1,531,847 |
|
Decrease (Increase) in Other Receivables |
33,218 |
-30,413 |
|
Decrease (Increase) in Other Receivable-
Related Parties |
8,010 |
-1,602 |
|
Decrease (Increase) in Inventories |
-285,857 |
384,008 |
|
Decrease (Increase) in Other Prepayments |
-291,916 |
-30,440 |
|
Decrease (Increase) in Other Current Assets |
1,849 |
1,309 |
|
Decrease (Increase) in Other Financial
Assets |
10,581 |
-4,507 |
|
Increase (Decrease) in Financial
Liabilities Held for Trading |
330,587 |
150,628 |
|
Increase (Decrease) in Notes Payable |
7,246 |
20,221 |
|
Increase (Decrease) in Accounts Payable |
56,639 |
-19,018 |
|
Increase (Decrease) in Accounts Payable -
Related Parties |
-35,125 |
30,476 |
|
Increase (Decrease) in Income Tax Payable |
-1,792 |
58,235 |
|
Increase (Decrease) in Accrued Expenses |
-9,928 |
93,302 |
|
Increase (Decrease) in Other Payables |
-701 |
935 |
|
Increase (Decrease) in Other Financial
Liabilities |
13,886 |
-68,966 |
|
Increase (Decrease) in Other Current Liabilities |
-9,950 |
7,972 |
|
Net Cash Provided by (Used in) Operating
Activities |
-147,204 |
-91,997 |
|
Cash Flows from Investing Activities |
|
|
|
Acquisition of Available-for-sale Financial
Assets |
-95,255 |
-94,380 |
|
Proceeds from Disposal of
Available-for-sale Financial Assets |
131,724 |
71,671 |
|
Capital Reduction of Financial Assets
Carried at Cost |
3,000 |
0 |
|
Disposal of Hedging Derivative Financial
Instruments |
62 |
-1,295 |
|
Purchase of Property, Plant and Equipment |
-237,202 |
-77,412 |
|
Proceeds from Disposal of Property, Plant
and Equipment |
4,645 |
2,387 |
|
Decrease (Increase) in Refundable Deposits |
-657 |
-20 |
|
Decrease (Increase) in Restricted Assets |
-21,486 |
-372,474 |
|
Net Cash Provided by (Used in) Investing
Activities |
-215,169 |
-471,523 |
|
Cash Flows from Financing Activities |
|
|
|
Increase (Decrease) in Short-term Loans |
653,593 |
522,353 |
|
Increase (Decrease) in Short-term Notes and
Bills Payable |
59,988 |
-48 |
|
Proceeds from Long-term Debt |
5,750,000 |
3,979,738 |
|
Repayment of Long-term Debt |
-5,793,660 |
-3,725,200 |
|
Cash Dividends Paid |
-829,320 |
0 |
|
Purchase of Treasury Stock |
-61,654 |
0 |
|
Net Cash Provided by (Used in) Financing
Activities |
-221,053 |
776,843 |
|
Net Increase (Decrease) in Cash and Cash
Equivalents |
-583,426 |
213,323 |
|
Cash and Cash Equivalents, Beginning of
year |
1,474,099 |
660,434 |
|
Cash and Cash Equivalents, End of year |
890,673 |
873,757 |
|
Supplemental Cash Flow Information |
|
|
|
Interest Paid |
133,275 |
133,400 |
|
Capitalized Interest |
-1,514 |
0 |
|
Interest Paid- Excluding Capitalized
Interest |
131,761 |
133,400 |
|
Income Tax Paid |
13,299 |
7,312 |
|
Non-cash Investing and Financing Activities |
|
|
|
Current Portion of Long-term Liabilities |
714,950 |
62,983 |
|
Investing Activities Affecting Both Cash
and Non-cash Items |
|
|
|
Acquisition of Subsidiaries |
0 |
0 |
|
Cash Paid for Acquisition of Property,
Plant and Equipment |
|
|
|
Increase in Property, Plant and Equipment |
246,809 |
88,239 |
|
Increase (Decrease) in Payable for
Equipment Purchased |
-9,607 |
-10,827 |
|
Cash Paid for Acquisition of Property,
Plant and Equipment |
237,202 |
77,412 |
Subject did not introduce its bank details and from other source we can not obtain the relevant information, either.
Mortgage
No chattel mortgage
record of subject has been found within the recent 3 months.
Lawsuit
Up to
date of reporting, no existing or latent litigation of the subject has been found.
|
Department |
Sales Department
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.14 |
|
|
1 |
Rs.83.27 |
|
Euro |
1 |
Rs.71.94 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.